Corporate highlights for today, July 3: Bajaj Finance, Reliance Retail, SpiceJet, Patanjali, HDFC Bank, Tata Power, GMR Airports, Vedanta, Nykaa, MOIL, Bosch and more
Indian corporates witnessed a busy day with several notable developments: CG Power and Industrial Solutions successfully closed its QIP at ₹660 per share, raising funds from institutional investors at ~2.8% discount.
Bajaj Finance posted a robust Q1FY26 business update: customer franchise rose to 106.51 million (+21% YoY), new loans booked at 13.49 million (+23% YoY), AUM jumped 25% YoY to ₹4.41 lakh crore.
Reliance Retail announced a strategic minority stake in UK-based FaceGym to bring its facial workout studios to India through Tira and standalone outlets.
SpiceJet clarified that a cosmetic interior window frame became loose mid-flight on its Goa-Pune service, with no safety impact.
Dabur India won an interim injunction from the Delhi High Court restraining Patanjali Ayurved from airing allegedly disparaging ads against Dabur chyawanprash.
HDFC Bank CEO Sashidhar Jagdishan moved the Supreme Court seeking to quash an FIR filed by Lilavati Trust after three Bombay HC judges recused from hearing his plea.
Tata Power was ordered to pay $490.32 million in damages to Kleros Capital Partners over a breach of NDA, even as it reported strong Q4 earnings.
GMR Airports saw shares rise after TDSAT asked AERA to recalculate the HRAB for DIAL airport, which could raise tariffs and profitability.
Reliance Communications was classified as 'fraud' by SBI, implicating former director Anil Ambani over alleged fund diversion of ~₹12,692 crore.
Vedanta reported Q1FY26 production: aluminium output at 575,000 tonnes (+2% QoQ) and zinc output at 252,000 tonnes (-4% QoQ).
Nykaa (FSN E-Commerce) shares fell after a ~2.3% block deal by the Banga family as they pared stake.
MOIL reported a 15% YoY increase in manganese ore production in Q1FY26 and a 24% YoY rise in sales.
Bosch announced plans to invest ₹800 crore over the next two years for localisation of EV components and new mobility solutions.
Quess Corp said it plans to divest non-core businesses and focus on scaling staffing and digital services verticals.
These developments reflect the legal, operational, financial, and strategic actions shaping corporate India today.
Disclaimer: The information provided here is for informational purposes only and should not be considered as financial or investment advice. Please conduct your own research or consult a professional advisor before making any investment decisions. Neither the author nor the publisher is liable for any actions taken based on this information.
Ahmedabad Plane Crash
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
16 minutes ago
- CNBC
Microsoft layoffs hit 830 workers in home state of Washington
Among the thousands of Microsoft employees who lost their jobs in the cutbacks announced this week were 830 staffers in the company's home state of Washington. Nearly a dozen game design workers in the state were part of the layoffs, along with three audio designers, two mechanical engineers, one optical engineer and one lab technician, according to a document Microsoft submitted to Washington employment officials. There were also five individual contributors and one manager at the Microsoft Research division in the cuts, as well as 10 lawyers and six hardware engineers, the document shows. Microsoft announced plans on Wednesday to eliminate 9,000 jobs, as part of an effort to eliminate redundancy and to encourage employees to focus on more meaningful work by adopting new technologies, a person familiar with the matter told CNBC. The person asked not to be named while discussing private matters. Scores of Microsoft salespeople and video game developers have since come forward on social media to announce their departure. In April, Microsoft said revenue from Xbox content and services grew 8%, trailing overall growth of 13%. In sales, the company parted ways with 16 customer success account management staff members based in Washington, 28 in sales strategy enablement and another five in sales compensation. One Washington-based government affairs worker was also laid off. Microsoft eliminated 17 jobs in cloud solution architecture in the state, according to the document. The company's fastest revenue growth comes from Azure and other cloud services that customers buy based on usage. CEO Satya Nadella has not publicly commented on the layoffs, and Microsoft didn't immediately provide a comment about the cuts in Washington. On a conference call with analysts in April, Microsoft CFO Amy Hood said the company had a "focus on cost efficiencies" during the March quarter.
Yahoo
22 minutes ago
- Yahoo
Britain launches strategy to expand onshore wind, create jobs
By Susanna Twidale LONDON (Reuters) -Britain is launching its first ever onshore wind strategy, designed to boost renewable power capacity and increase jobs in the sector, the government said on Friday. Britain is aiming to largely decarbonise its electricity sector by 2030 as part of efforts to meet its climate goals, boost energy security and reduce power costs by curbing its reliance on expensive fossil fuels. 'Rolling out more onshore wind is a no-brainer – it's one of our cheapest technologies, quick to build, supports thousands of skilled jobs and can provide clean energy directly to the communities hosting it,' Energy Minister Michael Shanks said in a statement from the Department for Energy Security and Net Zero. The government said the move could help create around 45,000 jobs. Under the strategy it is launching 40 actions to help boost onshore wind projects such as offering funding for things like football pitches or libraries in communities hosting the projects, working to repower existing wind turbines coming to the end of their lifespans and improving the planning process for new projects. 'The measures outlined will increase confidence among investors and developers, so that we can attract billions in private investment and create thousands of highly-skilled jobs and new supply chains all over the country,' James Robottom, Head of Onshore Wind Delivery at industry group RenewableUK said in the government statement. Britain currently has around 16 gigawatts (GW) of onshore wind power but is targeting 27-29 GW by 2030. (Reporting By Susanna Twidale; Editing by Hugh Lawson) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
36 minutes ago
- Yahoo
High streets suffer disappointing June amid ‘incredibly cautious' spending
The high street suffered a disappointing June with consumers being 'incredibly cautious' amid rising job losses and volatile geopolitics, latest figures show. Sales rose by just 0.6% year on year while online sales saw a 4.3% increase as consumers adapted their shopping behaviour to the warm temperatures, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO. The disappointing store figures reflected the high street's continued struggle to attract shoppers, BDO said. This was particularly evident in the fashion sector, where online sales grew by 10% in June compared with a 0.2% decline on the high street. It is the sixth consecutive month that in-store sales growth has been below the rate of inflation, which means that sales volumes are significantly down in the first half of this year. Data from the CBI also suggests that this is the ninth consecutive month that overall sales volumes have fallen, reflecting the ongoing challenge the retail sector faces in attracting consumer spending. Sophie Michael, head of retail and wholesale at BDO, said: 'Consumer spending continues to be challenged, with little optimism for retailers. 'We know that consumers are being incredibly cautious when it comes to discretionary spend, given the significant noise around rising job losses and volatility in the geopolitical landscape. 'There is also a growing gap between the performance of physical stores and online retail. 'Perhaps this is because online retailers have greater agility to adjust their inventory and promotional material to quickly align to consumer preferences, such as promoting summer outfits in extreme high temperatures and pivoting to waterproofs when the rain arrives.'
